Department of Legal Affairs invites comments on draft Arbitration and Conciliation (Amendment) Bill, 2024
On 18 October 2024, in India, the Department of Legal Affairs invited public comments on the draft Arbitration and Conciliation (Amendment) Bill, 2024, aimed at boosting institutional arbitration and reducing court intervention.
Summary
On 18 October 2024, in India, the Department of Legal Affairs invited public comments on the draft Arbitration and Conciliation (Amendment) Bill, 2024, along with a table comparing existing and proposed provisions. The aim is to give a further boost to institutional arbitration, reduce court intervention in arbitrations and ensure timely conclusion of arbitration proceedings, as part of steps to promote ease of doing business and enforcement of contracts.
Key facts
- Date
- 18 Oct 2024
- By
- Department of Legal Affairs
- Draft
- Arbitration and Conciliation (Amendment) Bill, 2024
- Aims
- Boost institutional arbitration; reduce court intervention; timely conclusion of proceedings
Practice MCQs 2 questions
Which department invited public comments on the draft Arbitration and Conciliation (Amendment) Bill, 2024 on 18 October 2024?
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Correct answer: B — Department of Legal Affairs
PIB, 18 Oct 2024: the Department of Legal Affairs invites comments/feedback from the public on the draft amendment Bill.
Which of the following is a stated aim of the draft Arbitration and Conciliation (Amendment) Bill, 2024?
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Correct answer: C — Reducing court intervention in arbitrations
PIB, 18 Oct 2024: the aim is to boost institutional arbitration, reduce court intervention in arbitrations and ensure timely conclusion of arbitration proceedings.